Algerian Radio
Gold prices edged slightly lower this Monday, pressured by fading hopes for near-term U.S. interest rate cuts due to surging energy prices. However, a weakening dollar helped limit the losses. Spot gold fell by 0.2% to $5,007.58 per ounce.
U.S. gold futures for April delivery fell by 1%, settling at $5,011.10 per ounce.
The dollar edged slightly lower, making dollar-denominated commodities, such as gold, less expensive for holders of other currencies.
As for other precious metals, spot silver fell by 1.2% to $79.57 per ounce, while platinum rose by 0.8% to $2,042.98. Palladium also climbed by 1% to reach $1,566.91.
